According to Texas A & M Real Estate Center, the San Antonio Housing Market continues upward trend. Sales, Median Price and Average Price all increased on a YoY(Year over Year) basis while Monthly Inventory fell sharply. Experts say a balanced market consists of a 6.5 month supply of homes. San Antonio experienced a YoY drop of 16.25% in inventory bringing us down to a 6.7 month supply. While not the norm, Realtors across San Antonio are seeing multiple offers pop up on properties that are priced correctly to the market. This trend should continue with San Antonio’s strong job growth and increased access to credit for homebuyers. The number of units sold increased 6.83% YoY while Median Price and Average Price crept up .74% and 1.13% respectively. Our Median Price now stands at $148,900 and Average Price is at $181,700.
Statewide numbers increased as well. The volume of single-family home sales in Texas was 45,502, a 12% increase YoY. The median price edged up 2.7% to $147,100 for the same quarter in 2011.
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